China Hotel Market has grown significantly in recent years and is … “It is difficult to quantify the impact Coronavirus has already had on the luxury hotel market due to the fact it is a relatively recent development and is still ongoing,” he said. Growth Drivers4.1 Rising Disposable Income4.2 Growing China's Middle Class 4.3 Increasing inbound tourists in China5. While it is still too early to determine any long-term impact to China’s still-recovering hotel industry, occupancy rates in Beijing dropped from 50 percent to 20 percent in a week, Rossman said. Independence Day holiday weekend may defer any negative impact to the hotel industry. The U.S. is now grappling with its own case spike. Research and Markets partners with charity: water. “In China, Marriott International, Hilton and InterContinental Hotels Group account for a major share of luxury hotels in pipeline,” said Hollister. Monthly Data; Quarterly Data; Annual Data; Census Data Executive Summary4. Latest trends in the Tourism and Hotel Industry in China, growth prospects, industry competitiveness, major players, value/supply chain, regional market share and forecast to 2023. Download the china tourism and hotel industry report (2018-23) now. Introduction2. Opportunities 7. Rising case counts in Sun Belt states last week could even take a toll on what had been strong-performing resort destinations. The product is a PDF. Continuing the momentum, the country dominated the market in 2019, maintaining a YOY growth rate of 10.2%, according to data and analytics company GlobalData. Their demand for personalized and unique accommodation experiences has become more specific.”. Hoteliers have already acknowledged the U.S. hotel recovery can only go so far on leisure travel alone, as roughly a third of room revenue at luxury and upper upscale hotels comes from group business travel. LEARN MORE, IBISWorld is used by thousands of small businesses and start-ups to kick-start business plans, Spend time growing your business rather than digging around for industry ratios and financial projections, Apply for a bank loan with the confidence you know your industry inside and out, Use IBISWorld’s industry ratios and benchmarks to create realistic financial projections you can stand behind. Photo Credit: A spike in new coronavirus cases in both China and the U.S. in June threatens to plateau both countries' hotel recovery momentum. Please submit your order within that time frame to avail of this price as all prices are subject to change. Any adverse changes in political and economic consequences may hinder the growth of the market. Why Won’t Washington Act? “Hilton plans to build 1,000 hotels in China by 2025, which illustrates the profitability it associates with the Chinese market.”. Presently, catering industry and cultural and entertaining industry in China develops to a higher level. Given China’s earlier outbreak and lockdowns, it is leading the U.S. by about seven weeks in their similar recovery path. China's own hotel companies are comparatively small and immature when compared to foreign multinational companies. in the online hotel reservation industry in China in H1 2019 Meituan Hotel Ctrip Qunar Tongcheng-Elong Fliggy Others Meituan tops the online hotel reservation industry in H1 2019, gaining over 50% of orders in the industry Note: data on this page are statistics of users … Having built the world's largest hotel performance database, we understand our role in providing the solutions needed to help the industry operate through the best and worst of times. Since the lockdown has been lifted in many parts of the country, however, business activity in China’s hospitality industry has begun to pick up. We aim to respond to all questions on the same business day. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. Year End 2019 Hotel Statistics: 82.5% Occupancy | $261.31 ADR | $215.61 RevPAR Source: Pinnacle Advisory Group 2018-2022 Hotel Openings & Projections. The product is a PDF. Our first round of speakers has been announced. The strong growth in the domestic and inbound tourism leads to the growth in the hotel industry in China. Hotel Type - China Hotel Market9.1 High-End Hotel Market9.2 Mid Scale Hotel Marketa9.3 Budget Hotel Market10. China’s per capita GDP is expected to exceed $10,000 in 2019, accelerating the increase of new tourists and boosting the demand for hotel reservations 4. * The price quoted above is only valid for 30 days. Still haven't found what you're looking for? The total contribution of the Travel and Tourism sector in China to the nation's GDP stood at 11% in 2017, which is more than that of the world which stands at 10.4% in 2017. Enquire about COVID-19 updates for this product. The hospitality industry has increased steadily, growing by 17% between 2004 and 2014. The sharp decline was enough to drag Mainland China’s overall hotel occupancy down from its 52 percent high to 47 percent two weeks ago and reverse some of the positive growth in the country’s largest cities. The China Hotel Market is expected to be USD 136 Billion (Yuan 938 Billion) by the end of the year 2023. Expert Insight: Thousands of Hotels are on the Brink. INTERNATIONAL REPORT—In 2018, China was the largest market for luxury hotels in the world, registering year-over-year (YOY) growth of 18.3% in revenue. “Hopefully, it’s a short-term thing and recovery continues when that gets resolved.”. The 40,173 new cases reported across the U.S. Friday was a new single-day record for the country. This is a 1-5 user license, allowing up to five users have access to the product. China Hotel Market is expanding further to meet the growing demand from both domestic and international travellers. With that, we have been pleased to provide a significant amount of complimentary insights via the webinars, press releases, blogs and social posts below. Perform a mouse-over on each data to view additional information. “In terms of international visitation, China is becoming temporarily shut off from inbound tourism,” he added. 3. At any stage, a flare-up can cause that to dip back down.”. Shanghai - Five Star Hotel Status13.1 Room Average Daily Rate (ADR)13.2 Revenue per Available Room (RevPAR)13.3 Occupancy Rate13.4 Room Stock13.5 International Visitors in City14. Annual Data. Ordering Platform - China Hotel Market10.1 Online Hotel Market10.2 Offline Hotel Market11. China and the U.S. have similarly strong domestic traveler fundamentals to their respective tourism economies, so much so that Marriott CEO Arne Sorenson predicted the two countries would significantly lead Europe in the hotel industry’s recovery from coronavirus shutdowns. With this IBISWorld Industry Research Report on , you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions. With the situation of the coronavirus being controlled in Beijing, it has now reopened to the public. Share - China Hotel Analysis8.1 Hotel Type Market8.2 Hotel Type Volume8.3 Ordering Platform9. HVAC (Heating, Ventilation, & Air Conditioning), China Hotel Market & Forecast by Type (High End, Mid Scale, Budget), Platform (Online, Offline), City, Hotel, Numbers (Up-Scale Hotel, Mid-Scale & Budget Hotel, Total). Clearing the 50 percent threshold meant business travel had begun to return, and data even showed mid-week demand eclipsed weekend demand, Rossman said. With political and social stability, rapid economic growth, and the vast population base and natural resources, China have lured many multinational hotels, including the world's leading hotel chains to its potentially huge market. China’s Luxury Hotels Had 10% 2019 Revenue Growth, Shatterproof Hospitality Hosts Third Heroes Reception at ALIS, BMS Helps Hoteliers to Adopt Green Cleaning Practices, APAC Hotel Construction Pipeline Continues Growth Through Q2, Hilton to Develop 1K Home2 Suites in China, China’s Hotel Construction Pipeline Hits All-Time High in Q1 Despite COVID-19 Pandemic, Peggy Bianco Joins Journera as Senior Advisor, Four Companies Report Third-Quarter Results, Marriott Reports 65.9% Global RevPAR Decline, Adds 127 Properties in Q3, First Atwell Suites Hotel Under Construction in Miami.